Barclays Lowers Similarweb (NYSE:SMWB) Price Target to $10.00

Similarweb (NYSE:SMWB) had its target price lowered by Barclays from $15.00 to $10.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 36.99% from the stock’s previous close.

SMWB has been the topic of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. Jefferies Financial Group boosted their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Northland Securities boosted their target price on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Citigroup boosted their target price on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group lowered their target price on Similarweb from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.75.

Similarweb Price Performance

NYSE:SMWB opened at $7.30 on Thursday. The business’s 50-day moving average is $7.76 and its two-hundred day moving average is $11.09. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The firm has a market capitalization of $603.12 million, a PE ratio of -52.14 and a beta of 1.13.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). The business had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $66.37 million. Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. Equities analysts anticipate that Similarweb will post -0.24 EPS for the current year.

Institutional Trading of Similarweb

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC bought a new stake in shares of Similarweb in the fourth quarter valued at approximately $26,059,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Similarweb in the fourth quarter valued at approximately $22,536,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Similarweb by 61.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company’s stock valued at $22,846,000 after buying an additional 1,050,000 shares during the period. Wellington Management Group LLP bought a new stake in shares of Similarweb in the first quarter valued at approximately $7,355,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of Similarweb by 109.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after buying an additional 736,004 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.